With the launch of the iPhone 7 and iPhone 7 Plus in India, several online as well as offline retailers have been offering multiple offers. Airtel is also advertising a rather unreal offer on its website. Airtel’s Apple page has a headline, “Now Enjoy an iPhone 7 at just Rs 19,990 with Airtel Postpaid.”
At the moment the offer is only valid in Noida and Karnataka and hopefully Airtel will release it in other cities gradually.
But of course, the offer comes with some conditions. It is similar to the contracts offered in the US.
To be eligible for the offer, you will need to opt-in for any one of the following yearly Airtel plans. At the end of the 12 months, customers are eligible to return the iPhone 7 / 7 Plus and upgrade to the latest iPhone next year.
The three offers are as follows:
Rs 1,999 plan – 5GB data + Unlimited calling (local/STD/roaming- mobile + fixed line)
Rs 2,499 plan – 10GB data + Unlimited calling (local/STD/roaming- mobile + fixed line)
Rs 2,999 plan – 15GB data + Unlimited calling (local/STD/roaming- mobile + fixed line)
You will be required to make the minimum down payment – ranging from Rs 19,990 to Rs 43,792 depending on the model you select – and the rest shall be paid for by your Bajaj Finance Ltd (BFL) EMI plans at 0 percent interest rate. This is valid for customers who will return the iPhone in the 13th month to upgrade. For those users who plan to continue with the iPhone 7 / 7 Plus, a Balloon payment will be auto-debited from their BFL plans. After you pay the Balloon payment amount, you become the owner of the iPhone 7 / 7 Plus.
In the one year that you are using the phone, you will not be able to switch your plans or port your number to another network or transfer ownership to another user.
You can either return the phone after 12 months to upgrade to a new phone or you may continue with your iPhone 7 and terminate the contract after paying the Balloon Payment amount.
“The EMIs shall form part of the bill amount under the Plan. Thereafter, BFL will debit the remaining outstanding amount (‘Balloon Payment’) from your account and your contract with Airtel for the Plan will terminate and your loan with BFL will be closed,” says Airtel.
In order to terminate your contract before 12 months, you will need to foreclose your Bajaj Finance loan and carry an NOC to your nearest Airtel store. After that you can switch to any Airtel plan of your liking.
Post the 12 months of the plan, customers will be required to visit their Airtel stores within 30 days. If this is missed then Bajaj Finance will auto-debit the concerned Balloon Payment account depending on the model, from your bank.
After 12 months, you can either change your plans, or if you are not sure which plan you want to opt for, you will get the following discounts on current plans. Rs 1,999 will reduce to Rs 1,199 rental; Rs 2,499 will reduce to Rs 1,599 rental and Rs 2,999 will reduce to Rs 1,999 rental.
Airtel states that only phones which are in working conditions, without any physical damage will be accepted by stores. Airtel has detailed the device return guidelines in detail on its website.